Big Caring Group Bhd, Malaysia’s largest pharmacy chain, is planning a proposed IPO that could raise up to RM3 billion, in what may rank among the country’s biggest listings in the past decade, according to Bloomberg citing people familiar with the matter.
The private equity-backed group, supported by Creador Sdn Bhd, is targeting a potential listing by October this year, though the structure, size and timing remain subject to change as discussions are still ongoing, the people said.
The IPO is expected to involve a public offering of up to 25.5% of Big Caring’s enlarged share capital, with part of the proceeds earmarked for debt repayment. Existing shareholder Creador, which owns about 34% of the company, is also expected to sell up to 14.8% of its stake in the exercise.
Big Caring operates more than 600 outlets nationwide under brands including Big Pharmacy and Caring Pharmacy, according to its prospectus. The group plans to expand by opening 40 to 50 new stores annually over the next three to five years.
The proposed listing comes amid an active Malaysian IPO market, which has raised about RM5.6 billion year-to-date, led by Sunway Healthcare Holdings Bhd’s RM3.3 billion debut in March.
Big Caring did not respond to requests for comment.
